% Judgment delivered on: 26.02.2014
+ O.M.P. 1300/2013
ORGANIZING COMMITTEE COMMONWEALTH GAMES,
2010
..... Petitioner
Through: Mr. Neeraj Sharma, Advocate
with Ms. Pragya Nalwa & Ms.
Anjali Aggarwal, Advocates
versus
M/S NUSSLI (SWITZERLAND) LTD
..... Respondent
Through: Mr. Prashant Kumar, Advocate
with Mr. Amit Singh and Mr.
Rajiv Singh, Advocates
CORAM:
HON'BLE MR. JUSTICE VIPIN SANGHI
JUDGMENT
VIPIN SANGHI, J.
1. This petition has been preferred under Section 9 of the Arbitration and Conciliation Act, 1996 ('the Act') by the petitioner to seek a stay of discharge of the performance bank guarantee dated 29.10.2010 issued by HSBC Bank at the behest of the respondent, and to seek a direction to the respondent to keep the said bank guarantee alive till the conclusion of the proceedings under Section 34 of the Arbitration and Conciliation Act,
OMP No. 1300/2013 Page 1 of 21 1996. In the alternative, the petitioner seeks the permission to encash the said bank guarantee dated 29.06.2010.
2. The respondent was awarded a turnkey contract d